New accolades

One more recognition has come the way of Birla Sun Life Insurance Co. Ltd. Personal finance magazine Outlook Money has recognised Birla Sun Life Insurance (BSLI) as the best private sector life insurer for 2004.

The ranking was decided on the basis of an evaluation of all the life insurance companies on several key performance measures. The Honourable Union Minister of Commerce and Industry, Mr. Kamal Nath, gave the award away at a glittering function held in Mumbai on 4 April 2005.

Since the launch of its business in March 2001, BSLI has covered in excess of 600,000 lives with the sum assured totaling close to Rs. 21,000 crore (as on 28 February 2005). The company has registered an annualised premium for the first 11 months (till 28 February 2005) of the current financial year of Rs. 480 crore and the premium revenue for the period grew to Rs.684 crore.
S.K.Mitra, Director, Financial Services, Aditya Birla Group

BSLI has a network of 44 branches in 33 cities with a presence through outstation agency managers in another 54 locations. The total insurance advisor strength of BSLI is close to 10,000. Additionally it has tied up with 107 corporate agents and Bancassurance partners for distributing its products in over 200 locations.

The Outlook Money kudo came on the back of several other recognitions that have catapulted BSLI into the limelight in recent times.

It was one of the five companies across the Asian region to be-short listed for the final round of the 8th Asia Insurance Industry Awards 2004 in the category of "Life Insurance Company of the Year".

Organised by the "Asia Insurance Review" for the past eight years these awards are coveted industry touchstones to measure performance. This year's awards ceremony, held in Bangkok on 20 November 2004, was a glittering paean to success and excellence in the insurance industry worldwide.
S.K.Mitra, Director, Financial Services, Aditya Birla Group

BSLI is the only insurance company to feature in the top 25 of 'Hewitt Best Employer in India - 2004 Survey'. In the highly competitive space of 13 private players in the life insurance industry only BSLI made it to the Hewitt Associates list. According to Hewitt, Best Employers are organizations that run their businesses with people in mind. The Hewitt rating was based on companies that have the right people working together to their potential, in an enabling environment with the right leaders.

And BSLI has figured for two consecutive years in the top 20 list of 'Grow Talent - Great Places To Work' brought out by BusinessWorld. The magazine had its rating based on variables such as credibility, respect, fairness, pride, camaraderie and training.

Business World reported "While most companies treat their employees like numbers on the payroll, BSLI shows that treating people well is what differentiates a great company from an also ran".